APG Asset Management N.V. Has $707,000 Stock Position in Bancolombia S.A. (NYSE:CIB)

APG Asset Management N.V. grew its stake in Bancolombia S.A. (NYSE:CIB) by 23.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,200 shares of the bank’s stock after buying an additional 4,440 shares during the quarter. APG Asset Management N.V.’s holdings in Bancolombia were worth $707,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CIB. Barrow Hanley Mewhinney & Strauss LLC raised its position in Bancolombia by 45.3% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,412,322 shares of the bank’s stock valued at $46,112,000 after buying an additional 440,026 shares during the last quarter. M&G Plc bought a new stake in shares of Bancolombia in the first quarter worth $10,299,000. Swedbank AB acquired a new position in Bancolombia during the first quarter worth $9,260,000. Russell Investments Group Ltd. bought a new position in Bancolombia in the first quarter valued at $8,248,000. Finally, Moneda S.A. Administradora General de Fondos bought a new position in Bancolombia in the second quarter valued at $5,756,000.

Bancolombia Trading Down 0.4 %

Bancolombia stock opened at $31.24 on Wednesday. The stock has a 50-day simple moving average of $32.55 and a 200 day simple moving average of $33.59. The stock has a market capitalization of $7.51 billion, a P/E ratio of 4.91, a PEG ratio of 3.25 and a beta of 1.23. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03. Bancolombia S.A. has a 52 week low of $24.15 and a 52 week high of $37.85.

Bancolombia (NYSE:CIB) last issued its earnings results on Thursday, August 8th. The bank reported $1.44 EPS for the quarter, topping the consensus estimate of $1.43 by $0.01. Bancolombia had a return on equity of 15.68% and a net margin of 13.73%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.82 billion. Analysts expect that Bancolombia S.A. will post 5.99 earnings per share for the current year.

Bancolombia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.8456 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.38 annualized dividend and a dividend yield of 10.83%. Bancolombia’s dividend payout ratio is currently 53.14%.

Wall Street Analysts Forecast Growth

CIB has been the subject of several analyst reports. The Goldman Sachs Group cut Bancolombia from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $34.00 to $32.00 in a report on Tuesday, August 20th. JPMorgan Chase & Co. decreased their price target on Bancolombia from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Finally, Bank of America cut Bancolombia from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $38.00 to $34.00 in a research note on Thursday, August 29th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $32.40.

About Bancolombia

Bancolombia SA, together with its subsidiaries, provides banking products and services in Colombia and internationally. The company operates through nine segments: Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, International Banking, and All Other.